Once again, more proof that the right-wing's trickle down theory is a complete and utter fallacy.
For most U.S. workers, real wages — that is, after inflation is taken
into account — have been flat or even falling for decades, regardless of
whether the economy has been adding or subtracting jobs.
We grow more productive, we work as hard as we can, and what's our reward?
But after adjusting for inflation, today’s average hourly wage has just
about the same purchasing power as it did in 1979, following a long
slide in the 1980s and early 1990s and bumpy, inconsistent growth since
then. In fact, in real terms the average wage peaked more than 40 years
ago: The $4.03-an-hour rate recorded in January 1973 has the same
purchasing power as $22.41 would today.
Of course, some people are coming out a bit better:
What gains have been made, have gone to the upper income brackets. Since
2000, usual weekly wages have fallen 3.7% (in real terms) among workers
in the lowest tenth of the earnings distribution, and 3% among the
lowest quarter. But among people near the top of the distribution, real
wages have risen 9.7%.
The rich get richer, the rest of us lose ground. And yet so many of 'the rest of us' keep voting the hot button issues, the ones that don't really impact their every day lives, but make really cutting ad copy.